28,205 Shares in Credo Technology Group Holding Ltd (NASDAQ:CRDO) Acquired by Trek Financial LLC

Trek Financial LLC purchased a new stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) during the 4th quarter, Holdings Channel.com reports. The fund purchased 28,205 shares of the company’s stock, valued at approximately $1,896,000.

A number of other hedge funds have also modified their holdings of the company. FMR LLC lifted its stake in shares of Credo Technology Group by 731.6% during the 3rd quarter. FMR LLC now owns 1,152,361 shares of the company’s stock valued at $35,493,000 after buying an additional 1,013,789 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Credo Technology Group by 94.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,719 shares of the company’s stock worth $7,507,000 after acquiring an additional 118,169 shares during the period. Centiva Capital LP bought a new position in shares of Credo Technology Group in the third quarter worth about $553,000. Janus Henderson Group PLC lifted its holdings in Credo Technology Group by 18.9% in the 3rd quarter. Janus Henderson Group PLC now owns 66,045 shares of the company’s stock worth $2,034,000 after purchasing an additional 10,496 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Credo Technology Group by 23.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 31,011 shares of the company’s stock worth $955,000 after purchasing an additional 5,976 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Insider Activity at Credo Technology Group

In other news, COO Yat Tung Lam sold 100,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $73.26, for a total value of $7,326,000.00. Following the sale, the chief operating officer now owns 200,000 shares of the company’s stock, valued at approximately $14,652,000. This represents a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Daniel W. Fleming sold 3,790 shares of Credo Technology Group stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $72.61, for a total transaction of $275,191.90. Following the transaction, the chief financial officer now directly owns 638,564 shares of the company’s stock, valued at approximately $46,366,132.04. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 830,665 shares of company stock worth $54,153,192. Company insiders own 16.04% of the company’s stock.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $33.30 on Monday. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of -222.00 and a beta of 2.30. The business has a 50 day simple moving average of $56.25 and a 200-day simple moving average of $54.32. Credo Technology Group Holding Ltd has a 1 year low of $16.82 and a 1 year high of $86.69.

Analyst Ratings Changes

CRDO has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $80.00 target price on shares of Credo Technology Group in a report on Wednesday, March 5th. The Goldman Sachs Group boosted their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Susquehanna upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Barclays boosted their target price on Credo Technology Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Stifel Nicolaus raised their price target on Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 6th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $74.60.

Credo Technology Group Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.